StockNews.com Upgrades Kenon (NYSE:KEN) to Hold

Kenon (NYSE:KEN) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Kenon Trading Up 0.6 %

Kenon stock opened at $22.94 on Tuesday. Kenon has a 1 year low of $17.64 and a 1 year high of $30.65. The firm’s 50-day moving average is $23.74 and its 200-day moving average is $23.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.05 and a current ratio of 3.05. The company has a market cap of $1.24 billion, a P/E ratio of -5.19 and a beta of 1.45.

Kenon (NYSE:KEN) last issued its earnings results on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter. Kenon had a negative net margin of 34.10% and a negative return on equity of 10.82%. The firm had revenue of $151.00 million for the quarter.

Institutional Investors Weigh In On Kenon

A number of hedge funds have recently added to or reduced their stakes in KEN. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Kenon by 3.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock worth $57,746,000 after acquiring an additional 75,892 shares during the period. Assenagon Asset Management S.A. grew its position in Kenon by 143.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock worth $2,483,000 after purchasing an additional 63,374 shares during the last quarter. Citigroup Inc. increased its stake in shares of Kenon by 14.9% in the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after purchasing an additional 12,153 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Kenon during the fourth quarter valued at approximately $214,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Kenon by 150.0% during the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock worth $80,000 after buying an additional 1,800 shares during the period. 13.38% of the stock is currently owned by institutional investors.

About Kenon

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.